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2013-08-06

Resolution of August 1, 2013, by the Secretary General of the Treasury and Financial Policy updating financial prudence limits for autonomous communities' debt operations under the ICO-CCAA 2012 line and Autonomous Liquidity Fund

The Secretary General of the Treasury and Financial Policy issued this resolution to update the maximum allowable fixed interest rates and spreads over EURIBOR for debt operations by common-regime autonomous communities and cities with autonomous statute accessing the ICO-CCAA 2012 direct financing line and the Autonomous Liquidity Fund. The updated annex replaces previous monthly publications and establishes the specific cost ceilings for August 2013 across operation maturities ranging from one month to twenty-six months or more. These maximum cost limits must be strictly observed to ensure compliance with the financial prudence principle governing regional borrowing under the referenced March 2013 resolution.

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OFFICIAL BULLETIN OF THE STATE No. 187 Tuesday, August 6, 2013 Sec. I. Page 57220 I. GENERAL PROVISIONS MINISTRY OF ECONOMY AND COMPETITIVENESS 8663 Resolution of August 1, 2013, by the Secretary General of the Treasury and Financial Policy, updating the annex included in the Resolution of March 4, 2013, defining the financial prudence principle applicable to the debt operations of common-regime autonomous communities and cities with autonomous statute that opt for the direct ICO-CCAA 2012 financing line and the Autonomous Liquidity Fund.

The Resolution of March 4, 2013, by the Secretary General of the Treasury and Financial Policy, defining the financial prudence principle applicable to the debt operations of common-regime autonomous communities and cities with autonomous statute that opt for the direct ICO-CCAA 2012 financing line and the Autonomous Liquidity Fund, establishes in its third article that «the maximum total cost of debt operations, including commissions and other expenses, may not exceed the fixed rates or maximum spreads applicable, which shall be published monthly by Resolution of the Secretary General of the Treasury and Financial Policy. The published maximum costs shall remain in force until new costs are published».

In accordance with this obligation to monthly update the applicable maximum fixed rates or spreads, a new annex is published that will replace the annex included in the Resolution of March 4, 2013, and the last update published in the Resolution of June 28, 2013, by the Secretary General of the Treasury and Financial Policy.

Madrid, August 1, 2013.–The Secretary General of the Treasury and Financial Policy, Iñigo Fernández de Mesa Vargas.

ANNEX Maximum spreads applicable for August 2013 for the purposes of compliance with paragraph three of the Resolution of March 4, 2013, by the Secretary General of the Treasury and Financial Policy

Operation life (months)Maximum fixed rateMaximum spread over 12-month EURIBORMaximum spread over 6-month EURIBORMaximum spread over 3-month EURIBORMaximum spread over 1-month EURIBOR
12.72275
22.79275
32.90272283
43.05284296
53.19297309
63.29296307318
73.37303314326
83.44309320331
93.54317328340
103.60321332344
113.61321331343
123.67314325336348
133.78324336346358
143.90335346357369
154.01345357367379
164.05348359369381
174.08351361372383
184.11354363374386
194.24362374384396
204.36371384394406
214.46382393404415
224.53388399410422
234.60395406416428
244.67401412423434
254.73405416427438
Term ≥ 264.75422441452462

cve: BOE-A-2013-8663

OFFICIAL BULLETIN OF THE STATE No. 187 Tuesday, August 6, 2013 Sec. I. Page 57221 cve: BOE-A-2013-8663 http://www.boe.es OFFICIAL BULLETIN OF THE STATE D. L.: M-1/1958 - ISSN: 0212-033X

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